Shehbaz Sharif reaffirms transparency and merit will underpin entire process
\n Islamabad
\nPrime Minister Shehbaz Sharif said on Wednesday that bidding for Pakistan International Airlines (PIA) would be held on December 23 with a live media broadcast.
\nThe government has been seeking to sell a 51-100 per cent stake in the struggling national airline to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund (IMF) programme.
\nIt would be the country\u2019s first major privatisation in nearly two decades. Four bidders have been pre-qualified for the sale: Lucky Cement Consortium, Arif Habib Corporation Consortium, Fauji Fertiliser Company Limited and Air Blue Limited.
\nA press release posted on X by state broadcaster PTV News said that the prime minister held a meeting with all corporate entities and company representatives participating in the privatisation process of the national airline.
\n\u201cPIA\u2019s bidding will take place on December 23, 2025, which will be broadcast live on all media,\u201d the statement quoted the prime minister as saying.
\nHe said the process was proceeding smoothly to restore the national carrier\u2019s \u201clost prestige\u201d and align it with modern requirements.
\n\u201cSoon, PIA will once again live up to its tradition of \u2018Great People to Fly With\u2019.
\n\u201cWe are ensuring transparency and merit in the privatisation process of PIA,\u201d he was quoted as saying.
\nThe prime minister said the restoration of PIA\u2019s flights worldwide would provide convenience to overseas Pakistanis, stressing that aligning it with modern requirements was \u201cextremely essential\u201d for the tourism sector\u2019s development.
\n\u201cI am hopeful that whoever among you takes on this important responsibility after the bidding will focus all their energies on restoring the prestige of the national airline and its development,\u201d the prime minister said.
\nThe statement added that the participants \u201ccommended the professional and transparent approach adopted by the government\u201d during the entire process.
\nA parliamentary committee was informed in September that Pakistan International Airlines Corporation Limited was expected to be privatised by November. PM Shehbaz had directed authorities on Nov 20 to expedite and complete all phases of the privatisation with complete transparency.
\nBut the development did not come to pass and last week, the National Asse\u00admbly Standing Committee on Privatis\u00adation sought a clear timeline to complete the ongoing bidding process and directed that the process be accelerated.
\nOnce a leading global airline, PIA resumed European flights in January after a four-year EU ban linked to safety concerns.
\nA previous attempt to sell the airline failed as a $36 million bid from real estate firm Blue World City fell short of the $305 million floor price, with concerns over debt, staffing and limited control.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shehbaz Sharif reaffirms transparency and merit will underpin entire process Islamabad Prime Minister Shehbaz Sharif said on Wednesday that bidding for Pakistan International Airlines (PIA) would be held on December 23 with a live media broadcast. The government has been seeking to sell a 51-100 per cent stake in the struggling national airline to raise […]<\/p>\n","protected":false},"author":2,"featured_media":517957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-517951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n